Cincinnati Financial (NASDAQ:CINF) Sets New 12-Month High After Dividend Announcement

Shares of Cincinnati Financial Co. (NASDAQ:CINF) hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $152.85 and last traded at $151.78, with a volume of 56884 shares traded. The stock had previously closed at $151.78.

The newly announced dividend which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Roth Mkm lifted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Price Performance

The firm has a market capitalization of $23.54 billion, a PE ratio of 7.74, a P/E/G ratio of 2.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a fifty day moving average price of $140.10 and a 200-day moving average price of $128.80.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Institutional Trading of Cincinnati Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Moisand Fitzgerald Tamayo LLC purchased a new stake in Cincinnati Financial in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Cincinnati Financial in the 3rd quarter worth approximately $28,000. Rothschild Investment LLC purchased a new stake in Cincinnati Financial during the 2nd quarter worth approximately $29,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.